A few weeks ago, around Tax Day, Heritage started warning of Taxmageddon—a one-year, $494 billion tax hike that slams the economy on January 1, 2013, unless Congress and President Obama act to stop it. At that time, Taxmageddon was merely a blip on Washington’s radar, because the conventional wisdom was …
Members of Congress called Apple executives to testify on Capitol Hill yesterday. Why? Because the company makes money overseas, and some Senators want to get their hands on the cash. A Senate subcommittee accused the company of “shifting” profits from the U.S. to other countries and avoiding paying taxes. But …
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